Silver Jewelry
Wholesale Silver Jewelry Executives Secrets Act
Have you seen similar silver jewelry sold at price difference of two to three sometimes different retailers? Have you ever wondered how retailers make the jewelry after the sellers buy them? Here we show the trade secrets wholesale sterling silver jewelry.
Price per gram
The most important piece of information for determining the price of a piece of sterling silver jewelry is the price per ounce of silver. This is the fundamental raw material cost of a piece of sterling silver jewelry due to the fact that silver is considered a precious metal. For example, the price of silver is $ 9.5 per ounce, the price per gram is determined by dividing the price per ounce by 31.5, which is 30 cents. Therefore, the cost of raw material for a band ring of 5 grams of the wedding is about $ 1.5. Some may wonder why people pay $ 30 for a silver Wedding Ring when the silver only cost $ 1.5. The following explains the difference.
Labor cost
To turn raw materials into finished products, it is a great deal of processing cost. The same has to be metal cast, molded and cast, polished and assembled. Most times, silver jewelry is accented with various stones, the costs for the establishment of the stones also are an important part of the total cost for jewelry, especially for jewelry that requires high level of craftsmanship.
Other materials
Furthermore, additional material costs are added to jewelry. For example, a pair of Silver Earrings dangling pearl that has two cultural fresh water pearls with rhodium finish should cost double the price of silver for do for the cost of the pearl and rhodium. Note that rhodium is even more expensive than silver itself and it is resistant to tarnish.
Shipping costs
Many styles of jewelry are imported from other countries because of differences in the availability of raw materials such as stones and also the specialties in making some particular styles. Therefore the cost of shipping carrier is also part of the cost. Usually, for imported jewelry in sterling silver, the shipping cost can amount to 10% of what it costs to make jewelry themselves.
Customs duties
For the same reasons, imported jewelry incurs duties at Customs. This is a cost that normal consumers are not aware of, but may also increase the price of sterling silver jewelry from 5% to 10%.
Price fluctuations
Some sterling silver jewelry trader, especially wholesaler would associate the price of silver jewelry with the current price. Therefore, the price of a piece of sterling silver jewelry might be different from month to month and even day to day in the case of wholesale.
Airlines
Like any other business, sales have to cover also the overhead of running the business. The above are normal costs of salaries of employees rent, utilities and breakage.
Benefit
Of course, the price you pay includes the profit for sellers.
By knowing the above facts, you can do much more informed decisions when buying jewelry wholesale sterling silver and most importantly, avoid scams. There occasions when people make fake silver jewelry and sell them at a very low price. If you know how to determine the cost of a piece of silver jewelry, it is not buying where you offer a price which is below the normal cost of real sterling silver jewelry .
About the Author
Greg Peterson got his MBA from MIT business school and is now working as marketing manager for jewelry distributors featuring wholesale sterling silver jewelry and wholesale hip hop jewelry featuring cubic zirconia stones.
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